haku: @indexterm Corporate finance / yhteensä: 722
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| Tekijä: | Wielenberg, S. |
| Otsikko: | Strategisches Verhalten bei der Unternehmenssanierung durch aussergerichtlichen Vergleich |
| Lehti: | Schmalenbachs Zeitschrift für Betriebswirtschaftliche Forschung
2001 : SEP, VOL. 53:6, p. 605-631 |
| Asiasana: | Corporate finance |
| Kieli: | ger |
| Tiivistelmä: | Ouf-of-court negotiations are frequently used to restructure the debt of a financially distressed firm. This paper discusses out-of-court debt negotiations in a setting of asymmetric information. In the model, the debtor is better informed about his firm´s financial situation than the creditor. Thus, the debtor might try to understate his real financial situation in debt-renegotiations. If only the debtor offers the terms of the restructuring agreement, the creditor will be left in a position as if the firm was liquidated in a judicial bankruptcy procedure. |
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